Grants to be offered to rural businesses and retail centres
Rural businesses and retail centres across Tonbridge and Malling are set to benefit from more than £500,000 of investment being planned by the borough council.
The cash will come in the form of two types of grant which will support innovation and help traders survive the economic slowdown. One will focus on backing rural businesses and community projects while the other will help fund improvements to shop fronts in towns and villages. The schemes are due to launch in 2023 and are in addition to a previously announced £1m in funding for borough improvements.
Cabinet members last night approved proposals to access £447,450 earmarked for Tonbridge and Malling in the government’s Rural England Prosperity Fund. The council is proposing to offer grants of up to £25,000 to rural enterprises which are developing new products and services, including farms looking to diversify income streams. The grants will generally be available to fund up to 50 per cent of project costs, rising to 80 per cent in exceptional circumstances for community projects.
The shop front improvement scheme will have a budget of £102,000 drawn from the UK Shared Prosperity Fund and business rates. It builds on the success of a similar initiative run from 2019 to 2021 which saw 31 independent businesses supported. Under the new scheme, retailers will be able to apply for a grant to meet 60 per cent of improvement costs, up to a maximum of £3,500.
Cllr Vivian Branson, cabinet member for economic regeneration, said: ‘The tough economic outlook is affecting businesses everywhere but rural enterprises and smaller independent retail outlets are particularly vulnerable when people reduce their spending.
‘These grants will help support innovation, stimulate our rural communities and keep our high streets looking attractive for shoppers. I very much look forward to launching these schemes next year and seeing them deliver benefits which will be felt right across the local economy.’